Investing.com - France’s economy grew unexpectedly in the fourth quarter of 2011, official preliminary data showed on Wednesday.
In a report, INSEE, France’s statistical office, said France’s gross domestic product grew by a seasonally adjusted 0.2% in the final three months of 2011, confounding expectations for a contraction of 0.2%.
France’s economy grew by an unrevised 0.3% in the third quarter.
Year-on-year, French GDP expanded at an annualized rate of 1.4%, after rising at a rate of 1.5% in the previous quarter and above expectations for a 1.1% expansion.
Households’ consumption expenditure slightly decelerated by the end of the year, while gross fixed capital formation accelerated.
Overall, total domestic demand drove GDP on for 0.3% of growth after 0.2% in the third quarter.
Following the release of that data, the euro was higher against the U.S. dollar, with EUR/USD gaining 0.38% to trade at 1.3183.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.8%, France’s CAC 40 futures rose 0.75%, London’s FTSE 100 futures added 0.25%, while Germany's DAX futures rallied 0.95%.
In a report, INSEE, France’s statistical office, said France’s gross domestic product grew by a seasonally adjusted 0.2% in the final three months of 2011, confounding expectations for a contraction of 0.2%.
France’s economy grew by an unrevised 0.3% in the third quarter.
Year-on-year, French GDP expanded at an annualized rate of 1.4%, after rising at a rate of 1.5% in the previous quarter and above expectations for a 1.1% expansion.
Households’ consumption expenditure slightly decelerated by the end of the year, while gross fixed capital formation accelerated.
Overall, total domestic demand drove GDP on for 0.3% of growth after 0.2% in the third quarter.
Following the release of that data, the euro was higher against the U.S. dollar, with EUR/USD gaining 0.38% to trade at 1.3183.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.8%, France’s CAC 40 futures rose 0.75%, London’s FTSE 100 futures added 0.25%, while Germany's DAX futures rallied 0.95%.